18/06/2019 - 06:51

Morning Headlines

18/06/2019 - 06:51

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Morning Headlines

Gina joins the payroll fight

Multibillionaire iron ore magnate Gina Rinehart has called on the State Government to turn WA into a business utopia by getting rid of payroll tax. The West

Wind blows Alinta towards Yandin sale

Busy dealmaker Alinta Energy is back in the M&A action, this time as a seller of a significant energy project. Street Talk understands Alinta has had ANZ Banking Group’s advisory arm in the market seeking a buyer for the biggest wind farm project in its home state of Western Australia, Yandin.

Vocus 'not to blame' as AGL exits

Chief executive Kevin Russell has rejected talk that the poor state of Vocus’s operations has scared off its latest suitor, AGL Energy, claiming there are no skeletons in the telco’s books. The Aus

Tax cuts no handout to the rich

Tax paid by high-income earners will vastly outstrip their growth in wages unless the Senate passes the full tax cut package, a new analysis shows. The Fin

Tech sector supports tax cuts for IP profits

The tech sector has thrown its support behind the Coalition’s consideration of a ‘‘patent box’’ tax cut, designed to incentivise the commercialisation of intellectual property, but not at the expense of research and development tax incentives. The Fin

RBA bond buying could be more ‘potent’ in Australia

The Reserve Bank of Australia should learn from the financial crisis mistakes of the US Federal Reserve and swiftly shift to ‘‘quantitative easing’’ stimulus if the RBA runs out of space to cut interest rates, a new report says. The Fin

Home-care fees ‘a dog’s breakfast’

A new analysis of the multi-billion dollar taxpayer-funded home-care industry has found some providers are charging 50 per cent more than others for the same care. The Aus

Inpex and Indonesia agree on Abadi plan

Inpex is set to use cash from its Australian Ichthys LNG project to develop the giant Abadi gas field in Indonesian waters north of Darwin. The West

 

 

The Australian Financial Review

Page 1: Tax paid by high-income earners will vastly outstrip their growth in wages unless the Senate passes the full tax cut package, a new analysis shows.

Page 2: The heads of Australia’s two largest media companies, Nine and News Corp, are pushing the government to fast-track legislative changes to improve protections for whistleblowers and stop journalists from being prosecuted for doing their jobs.

John Setka’s construction union has threatened to cut millions of dollars in funding to the Labor party and set off an industrial war with rival unions that have come out against him.

Page 3: The navy’s crewing crisis has deepened, with Defence admitting one of its frigates will now remain out of the water until 2021 because it is struggling to find enough sailors to man its warships.

Page 4: The tech sector has thrown its support behind the Coalition’s consideration of a ‘‘patent box’’ tax cut, designed to incentivise the commercialisation of intellectual property, but not at the expense of research and development tax incentives.

Page 8: The economy is at risk of descending into a slow, long-term decline if governments and business fail to take action on significant economic, social and environmental challenges, a new landmark study has warned.

Page 9: The Reserve Bank of Australia should learn from the financial crisis mistakes of the US Federal Reserve and swiftly shift to ‘‘quantitative easing’’ stimulus if the RBA runs out of space to cut interest rates, a new report says.

Page 13: AGL Energy has walked away from a $3 billion takeover of Vocus Group, leaving investors relieved it has dropped a perceived high-risk deal but questioning how else it can arrest an expected multi-year decline in earnings.

The yield on Australian 10-year government bonds could fall below 1 per cent by the end of the year, as investors grow more confident that the Reserve Bank will eventually turn to unconventional monetary policies to shore up economic growth.

Page 14: Busy dealmaker Alinta Energy is back in the M&A action, this time as a seller of a significant energy project. Street Talk understands Alinta has had ANZ Banking Group’s advisory arm in the market seeking a buyer for the biggest wind farm project in its home state of Western Australia, Yandin.

Page 17: Slow uptake of electric cars in the domestic market means Australia’s carbon emissions from passenger vehicles are likely to continue to increase until 2029, shifting more of the burden for meeting Paris emissions reduction targets to other sectors, warns Bloomberg New Energy Finance.

 

 

The Australian

Page 1: Australia’s university chancellors have endorsed the free speech model for campuses proposed by former High Court chief justice Robert French, trumping the objections of their vice-chancellors and Universities Australia, the sector’s main representative body.

Page 2: Australia was the world’s fifth-biggest investor in renewable energy projects last year, spending almost $10 billion, and had the second-highest use of solar-generated electricity per person. But as investment in renewables surged in Australia in 2018, spending fell 11 per cent worldwide, prompting concerns the pace of global energy transition has stalled.

Page 4: A new analysis of the multi-billion dollar taxpayer-funded home-care industry has found some providers are charging 50 per cent more than others for the same care.

Page 17: Chief executive Kevin Russell has rejected talk that the poor state of Vocus’s operations has scared off its latest suitor, AGL Energy, claiming there are no skeletons in the telco’s books.

Page 18: Infrastructure investors are now understood to be in the process of choosing advisers for the sales process of Brookfield’s $500 million Enwave gas and energy operation, as information memorandums start circling in the market.

Page 19: Afterpay Touch has been punished by the sharemarket for a third successive day, with its shares falling more than 6 per cent following the release last week of further details around its discussions with Austrac.

Page 24: The recent run of disappointments out of the smaller end of Australia’s gold sector could make it hard for would-be miners to secure the cash they need, the head of mid-tier gold producer Ramelius Resources has warned.

 

 

The West Australian

Page 5: Multibillionaire iron ore magnate Gina Rinehart has called on the State Government to turn WA into a business utopia by getting rid of payroll tax.

Page 6: City of Subiaco councillors are under pressure from Planning Minister Rita Saffioti to pass an infill-friendly planning scheme at a council meeting tonight or risk being excluded from the process.

Page 8: Premier Mark McGowan has stepped up his fight with militant unionist Christy Cain, using WA Labor’s ruling body to call into question Mr Cain’s continued support for embattled union head John Setka.

Page 9: A growing number of Perth private schools are opening their boarding houses to city students to help take the pressure off busy working families and offer more structure to students’ lives.

Page 11: WA’s peak business group has attacked new Liberal leader Liza Harvey after she abandoned plans to sell Western Power, called for expensive wage rises for public servants and walked away from a push to free up shopping hours.

Business: Flinders Mines has extended an olive branch to its disgruntled minority shareholders by committing to board renewal, promising more shareholder engagement and establishing an independent committee to identify the best way forward for its Pilbara iron ore project.

Recent game-changing rains across the State’s agriculture region mean almost half of WA farmers expect their incomes over the next fiscal year could match that of last year, when the perfect storm of big yields and strong grain prices led to an almost $7 billion harvest — the most valuable on record.

Adaman Resources has signed up WesfarmersEVOL LNG to slash energy costs at the Kirkalocka gold mine near Mt Magnet that it is restarting a decade after the last gold pour.

ANZ’s New Zealand chief executive has left the bank after an internal review raised concern among board members over his personal expenses.

Inpex is set to use cash from its Australian Ichthys LNG project to develop the giant Abadi gas field in Indonesian waters north of Darwin.

More than 60 WA cattle have allegedly perished in hot desert-like conditions after a shipment docked in Israel this month but failed to unload for five days.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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